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Bloomberg quotes Patrice Vachon in article on the transition of ‘baby-boomer’ owned businesses

Fasken
Reading Time 1 minute read
“Startups are great, but baby-boom businesses need nurture too” by Sandrine Restello and Frederic Tomesco, Bloomberg.

Bloomberg quotes Montréal lawyer Patrice Vachon in an article on the successful transition of ‘baby-boomer’ owned businesses in Québec.

“The problem is that owners don’t let go,” said Patrice Vachon, a lawyer with 37 years of transfer experience. Without preparation, “jobs will be lost, that wealth they’d created will disappear, there’ll be nothing to bequeath. Multiply that by 8 million people in Québec – that’s fewer taxes, less wealth for the people, that’s dramatic.”